Cubs Reportedly Sign Sixth Round Pick RHP Dylan Cease

According to multiple reports, including one from Dylan Cease, the Cubs have agreed to terms with RHP Dylan Cease on a $1.5 million signing bonus. The Cubs selected the right-hander in the sixth round of the draft. Cease had committed to play for the Vanderbilt Commodores.

Dylan Cease received $1,230,500 over the Cubs sixth round slot value of $269,000 to forgo his commitment to Vanderbilt to sign with the Cubs. Jim Callis reported Cease’s bonus is the fourth-highest ever paid to a sixth round pick and the highest bonus a sixth round pick has received under the current draft rules that have been in place since 2012.

As Callis pointed out, the Cubs were able to draft and sign the best college bat available in the draft (Kyle Schwarber) and use the savings on seven picks to add LHP Carson Sands, LHP Justin Steele and RHP Dylan Cease to the system.

The Cubs have not announced the signing of Dylan Cease but are expected to in the coming days.

The Cubs spent $8,754,000 on 11 picks in this year’s draft, $401,000 over the $8,352,200 the team was allotted for the 2014 draft.

The Cubs have signed each of the picks in the first 10 rounds of this year’s draft and were able save slot money in the first ten rounds to use on players that were labeled as tough signs. July 18 is the deadline to sign players that were selected in the draft.

The Cubs used the $2,188,200 saved on those seven picks on LHP Carson Sands, LHP Justin Steele, RHP Dylan Cease and 3B Kevonte Mitchell. The extra bonuses paid to Sands, Steele, Cease and Mitchell total $2,589,600.

The Cubs signed LHP Carson Sands for $1.1 million, which is $619,000 above the slot allotment of $480,600 for the Cubs fourth round pick. LHP Justin Steele was signed for $1 million, which is $640,100 over the Cubs slot allotment for their fifth pick of $359,900. RHP Dylan Cease was signed for $1.5 million, which is $1,230,500 over the Cubs slot allotment for their sixth round pick of $269,500. And 100,000 of the $200,000 bonus Kevonte Mitchell signed for counts against the bonus pool.

The Cubs signing bonus pool for the first 10 rounds of this year’s draft is $8,352,200 million. If the Cubs sign a player in rounds 11-40 for more than $100,000, the excess is counted against the team’s bonus pool. If the Cubs draft a player in the first 10 rounds they are unable sign, the assigned slot value is removed from their bonus pool allotment.

The Cubs spent $8,754,000 on 11 picks in this year’s draft, $401,000 over the $8,352,200 the team was allotted for the 2014 draft.

If a team exceeds its draft pool by 0-5 percent it receives a 75 percent tax on the overage. If a team exceeds its bonus pool allotment by more than five percent and up to 10 percent, the penalty is the loss of a first round pick and a 75 percent tax on the overage. If a team exceeds its bonus pool by 10-15 percent, the penalty is the loss of a first and second round pick, plus 100 percent tax on the overage. If a team exceeds its bonus pool by more than 15 percent, the penalty is two first round draft picks and 100 percent tax on the overage.